An angel investor is an individual who provides capital to a business for share capital ownership with the goal of making a return. There are about 400,000 angel investors in the U.S. who invest about $30 billion in startups every year. Diaspora Kenyans are starting the founder angel investor system by investing in Diaspora University Town (DUT) MSMEs.
Dan Kamau, the Executive Trustee of the Diaspora University Trust and Project Director of DUT, who is formerly of Worcester, MA, USA, says, “One of the reasons Diaspora Kenyans are employed in various countries worldwide, including the U.S., UK, and EU,is because of the role played by angel investors in starting MSMEs.”
Dan adds, “The 400,000 angel investors in the U.S. have significantly contributed to job creation and have played a crucial role in growing the U.S. GDP, now at $29 trillion, while generating substantial wealth. By becoming founder angel investors, Diaspora Kenyans can drive job creation in Kenya and help increase the country's GDP from $110 billion to over $2 trillion,and create billions in new wealth.”
Dr. Wilson Endege, a Diaspora Kenyan scientist based in Boston and founder of Daktari Biotechnology Ltd, says, “As Diaspora Kenyans, we have a unique opportunity to make a transformative impact on our homeland by becoming founder angel investors in startups based in Kenya. This initiative is not only about providing capital; it's about launching companies that develop essential products and services for the future of our country, leading to job creation and the generation of new wealth.”
Dr. Endege envisions Daktari Biotechnology Ltd as a major player in the pharmaceutical industry. Highlighting the significance of this sector, he notes that the 50 largest pharmaceutical companies have market capitalizations ranging from $15 billion to $580 billion, totaling $4.7 trillion. He says, “Daktari Biotechnology aims to achieve a market valuation of $1 billion (Ksh 100 billion) within the next decade.”
Prof. Philliph Mutisya from Raleigh, NC, is leading the establishment of Diaspora University. He says, “Diaspora Kenyans should consider becoming founder angel investors by transforming their over $4 billion in annual remittances into investments. I challenge every nurse dispensing medicines in the Diaspora to collaborate with their fellow Kenyan scientists to establish a company for producing medicines and vaccines.”
Currently in Kenya, Prof. Mutisya is working on the opening of Diaspora University, which, through its various schools, aims to collaborate closely with the MSMEs founded by these entrepreneurs and angel investors to boost Kenya's GDP and contribute to Africa's economic growth.
Last year, the professor visited Stanford University, which is renowned for its successful partnerships with entrepreneurs and angel investors in the establishment of some of the highest-valued companies in the world.
The DUT founders are calling upon Diaspora Kenyans and Kenyans to become angel investors through the DUT MSMEs and drive Kenya and Africa's economic development as they create billions in new wealth.
